Operating income for the new segment rose nearly 84% to $123 million, the company said.

But it helps to remember Intel is including chip sales for older kinds of products than the smartwatches, thermostats, doorlocks and other new-wave gadgets associated with the “IoT” moniker. Intel has long sold chips for “embedded” applications, which included factory and office equipment, automotive infotainment systems and medical devices.

Intel did not quantify how some of its latest products aimed at the market are faring, such as the ultra-small Quark chip announced last September. The group’s numbers do reflect revenue associated with the company’s Wind River Systems business, which sells software used in Internet of Things applications.

Another new reporting segment, the mobile and communications group, sheds light on how Intel is doing in chips for devices such as smartphones and tablets. Money is not being made: the operating loss of the business came to $929 million, Intel said. Revenue declined 61% to $155 million.

Intel’s outlook for the second quarter was pretty upbeat, however, and the stock was up in after-hours trading.